The Charlotte Hornets have agreed to send shooting guard Troy Daniels to the Memphis Grizzlies in a sign-and-trade deal.
The Hornets will receive a trade exception of about $1.6 million as a result of this trade, an informed source said.
The trade was first reported Saturday night by the Vertical.
Daniels averaged 5.6 points and shot 48 percent from 3-point range last season in 43 game appearances for the Hornets. The Hornets made a qualifying offer of about $1.2 million last month to restrict Daniels’ free-agency.
The Hornets have Nic Batum and Marco Belinelli as their primary options at shooting guard. Jeremy Lamb can also play there.
The Vertical reported Daniels will get a three-year, $10 million contract from the Grizzlies.
Daniels came to the Hornets in February of 2015, along with Mo Williams, in a trade with the Minnesota Timberwolves.